During a special Council meeting on Monday night, council approved additional budget to fund a larger than previously planned Wilson Street Parkade.
Staff recommended an additional $8.5 million dollars in funding for the project. It will see Wilson street’s proposed parkade get an additional two stories and an extra 194 more parking spots than previously planned.
The city will use $6.8 million dollars from the now defunct plans of a Neeve Street Parkade, and $1.7 million from existing City Reserve funds.
General Manager of Business Development and Enterprise Peter Cartwright said “one large parkade is a better and more timely solution than two smaller ones”.
The funding will cover the cost of the parkade, the reconstruction of Wilson Street, and the replacement of the pedestrian bridge over Norfolk.
The design build contract of $20.4 Million dollars will be awarded to Newton Construction of Guelph.
Construction is expected to begin next spring.